Copyright is a designation of intellectual property similar to a patent or trademark. Once an original composition has been fixed in a medium from which it can be reproduced (having either been recorded or written down in some fashion), the composer is granted exclusive rights to that piece of music, including:
• the right to reproduce the song
• the right to distribute the song
• the right to perform the song
• The right to create derivative works
One of the keys to understanding how money is made in the world of music publishing is the fact that every recorded piece of music has two separate copyrights (which are not always owned or exploited by the same persons or parties).
The two separate copyrights for recorded music are:
1. The composition itself — a song’s music and lyrics, apart from any particular recording of that composition. This copyright is owned by the songwriter and/or publisher.
2. The sound recording — a particular recorded version of a musical composition. This copyright is owned by the recording artist and/or label.
Music publishing involves the exploitation of the first of those forms of copyright.
Exploitation — isn’t that a bad thing? Not in this case. In the world of music publishing, you make money when you exercise your copyright is a number of ways. For more information, check out our article, “5 Ways to Make Money in Music Publishing.”